Société Générale stock rebounds and targets its moving averages, RSI at 40
After several difficult sessions marked by a decline of more than 11% over one month, Société Générale resists and gains ground this Thursday, in a nearly stable Paris index. Two analyst opinions published today provide contrasting insights into the bank's valuation, as the ECB holds its monetary policy meeting on the same day.
Two divergent analyst opinions released on the same day on Société Générale
This Thursday, two major brokerage houses simultaneously updated their opinion on Société Générale, with opposite conclusions. Oddo BHF lowered its price target from €85 to €82, while maintaining a neutral opinion on the stock. Conversely, Jefferies confirmed its buy rating and raised its target from €96 to €103, representing a premium of nearly 39% compared to the current price of €74.20.
The gap between the two targets is significant: 21 euros separate the most cautious target from the most ambitious one, illustrating very different readings of the bank's potential. According to the consensus of analyzed opinions, the stock is trading at approximately 9.4 times the expected earnings for the current fiscal year, and 8.2 times those of the following fiscal year, with earnings per share growth projected at +14.1% from one fiscal year to the next.
A contained rebound in a context of rising key rates and pressure on moving averages
The stock gained 0.97% during the session at €74.20, positioning itself among the strongest gainers in the CAC 40, while the index advanced 0.13%. This rebound occurs as the technical setup remains delicate: the price is below the 20-day moving average at €76.22 and the 50-day moving average at €77.37, thresholds that form a double resistance to overcome to validate a sustained recovery. Only the 200-day moving average at €71.31 provides a cushion, with the stock trading 4% above it. The RSI at 40 reflects still-present selling pressure, without reaching the outright oversold zone.
The macroeconomic context weighs on the sector: the ECB is expected to raise its deposit rate by 25 basis points on the same day, to 2.50%, in a context of revived energy inflation driven by Brent's surge above $100 per barrel. Historically, Société Générale is sensitive to eurozone key rates: an increase supports net interest margins, but can also dampen credit demand, with loans to French companies having grown 3.5% year-over-year to €1,485 billion as of July 1, 2026. The support level at €71.03 remains the reference level in case of renewed selling pressure.
